Expos highlight growing component, parts interest

Two industry expos held last week welcomed multinationals keen on Vietnam

The Vietnam Manufacturing Expo 2014 was organised by the Thai firm Reed Tradex, while the Industrial Components and Subcontracting Vietnam expo was co-organised by the Hanoi Trade Promotion Centre (HTPC) and the Hanoi Municipal Department of Industry and Trade.

The event gathered numerous innovations from 200 leading brands hailing from 20 different countries, including Japan, Singapore and Thailand. Alongside the exhibitions, other activities were also organised to run concurrently to enhance both technological experience and the business networking opportunities for all participants. Of particular interest to many in attendance was the second Engineer Master Class to advance the career path for engineer professionals, and a special seminar on Developing Win-Win Partnerships: Sharing the Best Practices in Working with Japanese.

In addition, around 50 local companies showcased their products and manufacturing capabilities with the aim of joining the supply chains of foreign companies.

Duangdej Yuaikwarmdee, deputy managing director and general manager of Reed Tradex Vietnam, said that the confluence of multiple sectors in one event provided maximum benefits to all participants like no other event had been able to do previously.

Following the opening ceremony, thousands of visitors from both Vietnamese and foreign manufacturing companies registered to visit the exhibitions. The organisers estimated that around 11,000 visitors attended various events to exploit business opportunities here.

The increasing number of both visitors and exhibitors mirrored the fact that both foreign and local companies are seeing Vietnam as a lucrative potential market for components and spare parts manufacturing.

Cheap labour costs and political stability are key factors in luring foreign investment to Vietnam, but supporting industries are said to be a barrier for foreign companies. The weakness of supporting industries, of course, is in itself an opportunity for components and equipment suppliers to penetrate the market.

As the market holds such vast potential, Yuaikwarmdee  said his companies even invited buyers from other countries to the event in Hanoi, using a unique “Business Delegation” programme designed to facilitate their easy travel to Vietnam to source future Vietnamese business partners at the show.